Colorado Code
Part 1 - Subject Matter and Definitions
§ 4-4.5-106. Time Payment Order Is Received

Source: L. 90: Entire article added, p. 344, § 1, effective January 1, 1991. L. 2006: (a) amended, p. 497, § 29, effective September 1.
The time that a payment order is received by a receiving bank usually defines the payment date or the execution date of a payment order. Section 4A-401 and Section 4A-301. The time of receipt of a payment order, or communication cancelling or amending a payment order is defined in subsection (a) by reference to the rules stated in Section 1-201(27). Thus, time of receipt is determined by the same rules that determine when a notice is received. Time of receipt, however, may be altered by a cut-off time.

Structure Colorado Code